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China stock market summary April 13, 2010

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decline_7 April 13, 2010 (Chinavestor) The DJIA had gradually recovered from session lows by the end of the day.  While Alcoa Inc. (NYSE:AA) disappointed, Intel (NASDAQ:INTC) beat estimates, lifting the spirit of tech investors.

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But Chinese stocks failed to keep up with the recovery of U.S. equities. Both large and small caps under perfoemrd for the day as the following screen testifies.

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Top ten China stocks moving along the general direction of the market are pictured in the following chart.

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Big movers in dollar today included China Petroleum & Chemical Corp.or Sinopec (NYSE:SNP), Asia's largest refiner. Softening oil prices improve margins for Chinese refiners, according to conventional wisdom. Stocks on the negative included pure oil producer CNOOC Ltd. (NYSE:CEO) and China Eastern Airlines (NYSE:CEA). Chinese airliners have suffered earlier the day in Hong Kong, so CEA's weakness today came as a no surprise.

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